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NewSpace India Limited expects Rs 400 crore revenue

NSIL has plans to recruit around 300 people over the next five years

ISRO-Satellite-Launch-Vehicle-Mk3 (For representation)

The NewSpace India Limited (NSIL) is expecting revenues of Rs 400 crore from operations in the current Financial Year (FY) 2020-21. It had garnered around Rs 300 crores during the last FY (2019-20). This entity was allocated Rs 700 crore in the budget which will be used in the next financial year. NSIL also has plans to recruit around 300 people over the next five years to expand its manpower. The aim of this entity is to have a self-sustaining model wherein it will generate its own funds and will not anticipate budgetary support in the long run. The recent PSLV-C51-Amazonia-1 mission, was its first full fledged commercial launch.  

“We are aiming at four more full fledged commercial launches in the next two years. We are still at a nascent stage. Our aim is to not only launch satellites but also procure satellites. Having started in March 2019 we have made good progress over the last two years. We have been mandated to own and operate capital intensive space assets such as satellites and launch vehicles and to provide end to end services on a commercial basis. The larger aim is to relieve ISRO from routine activities so that it can focus on advanced research and development,” remarked Narayanan G, Chairman and Managing Director of NSIL. 

He further informed that the new mandate enhanced by the government in June 2020 envisages a paradigm shift in the mode of provisioning space based services from the current supply driven model to a demand driven model. “We have initiated discussions with users regarding communication satellite capacities and shortly will finalise the requirements for new satellites in consultation with various users and start procuring, owning, launching and providing services mainly in the communication sector. We are also in the advanced stage of discussion with the Department of Space (DOS) to take the ownership of two new communication satellites,” added Narayanan. 

Interestingly NSIL has also taken steps to manufacture the entire Polar Satellite Launch Vehicle (PSLV) through Indian industries for which a Request for Proposal for identifying an industrial partner has already been issued. 

“We will continue to provide consultancy services in selected areas depending on the customer requirements. We have also undertaken transfer of identified technologies from ISRO to Indian industries to enable them to scale up their technology levels and compete in their relevant fields globally. We have during the last two years already executed launch services spread over 4 PSLV missions for 45 auxiliary customer satellites and the recent one primary satellite for INPE Brazil,” said Radhakrishnan D, Director-Technical and Strategy, NSIL. 

NSIL was incorporated as a wholly government owned Central Public Sector Enterprises with a paid up capital of Rs 10 crores in March 2019 and the initial mandate was to take over  the production and operation of operational launch vehicles from ISRO. The company was allowed to productionise and market other space based services as well. 

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